International investors dominated Central London office space in the third quarter of 2014.
A total amount of Â£3.3bn in transactions in Central London offices took place in this time frame, taking 2014’s figure so far up to Â£10.22bn, despite the prices of London offices staying consistently strong.
It was announced in September 2014, that London had overtaken Hong Kong as the world’s most expensive city to work in.
The most active investors in quarter three were from North America and Asia.
North American investors Blackstone acquired two properties; 125 Old Broad Street for Â£320m and 25 The North Colonnnade for Â£165m. Whereas Tishman’s bought The Point for Â£210m.
Asian investors consisted of Taiwanese firm Cathay Life Insurance who purchased the Woolgate Exchange for Â£312 and and Singaporean firm Temasek who acquired a half share for Â£181.3m in Mid-City Place.
All international investors stated that the main motivation for moving to the UK capital was to secure a presence in the European market.
This figure of investment in quarter three risen by 46% in comparison to the same time the previous year and has increased from 68% from the second quarter of 2014.
It is hoped that the number of overseas investors flocking to the UK will continue to grow.
By:Â Kirsty MacGregor
News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.